Longview port looking to complete grain project
Port of Longview officials are now looking at a December timeframe for completion of a deal that would bring a $100 million grain terminal to the port.
Officials of the Washington state port had hoped to conclude the deal with EGT, a joint venture formed by Bunge North America and Itochu International, earlier this fall, but according to the port, final details have taken longer than expected.
The deal would give EGT a lease to use the port property, with Bunge and Itochu ultimately constructing the terminal.
As a part of the deal, the port would spend $5.25 million to build a new berth, named Berth 9, for the grain terminal. The port has already lined up a $1 million low-interest loan from the state for the project and plans to issue a $6 million bond to cover the balance.